earnings
confidence high
sentiment neutral
materiality 0.80
Rogers Corp Q1 net sales $248.3M, EPS $0.87; reiterates DuPont merger timeline
ROGERS CORP
2022-Q1 EPS reported
$0.87
revenue$248,266,000
- Q1 net sales $248.3M, up 7.7% sequentially; GAAP diluted EPS $0.87, adjusted EPS $1.53.
- Gross margin 34.4% (up from 33.9% Q4 but down from 39.0% YoY); adjusted EBITDA margin 19.0%.
- EMS sales +11.5% on EV/HEV and industrial; AES +4.7% on EV/HEV and ADAS; COVID impacts tempered growth.
- Pending DuPont acquisition at $277/share cash, expected close late Q2/early Q3 2022; no guidance provided.
- Cash flow from operations -$13.7M, capex $28.2M; cash $182.1M down $50.2M sequentially.